BEQUESTS
Specific Bequest
In a specific bequest, the donor designates a particular property, dollar amount, or percentage of his or her estate to be transferred. For example, the will might include language such as:

"I give to the Southern Tier West Development Foundation, (the sum of $_____) or (all my right, title and interest in the following property_____________). This gift is added to the _______________ Fund." (IF A FUND HAS NOT BEEN ESTABLISHED, PLEASE CONTACT US OR REPLACE THE PRIOR SENTENCE WITH THE FOLLOWING) "This gift is to be used in such a manner as the Board of Directors of the Southern Tier West Development Foundation shall, in its sole discretion, determine."

Residual Bequest
In a residual bequest, the donor designates all or a portion of his or her remaining estate to be transferred to the Foundation only after all other beneficiaries (including debts, taxes, and other expenses) has been paid. For example:

"I give to the Southern Tier West Development Foundation, all the residue and remainder of my estate. This gift is to be added to the __________________ Fund." (IF A FUND HAS NOT BEEN ESTABLISHED, PLEASE CONTACT US OR REPLACE THE PRIOR SENTENCE WITH THE FOLLOWING) "This gift is to be used in such a manner as the Board of Directors of the Southern Tier West Development Foundation shall, in its sole discretion, determine."

Contingent Bequest
In a contingent bequest, the donor designates all or a portion of his or her estate to be transferred to the Foundation only if a named beneficiary predeceases the donor. For example:

"In the event that _________ (names of beneficiaries) shall not survive me, then I give ______________ (property, assets, etc.) to the Southern Tier West Development Foundation. This gift is to be added to the __________________ Fund. (IF A FUND HAS NOT BEEN ESTABLISHED, PLEASE CONTACT US OR REPLACE THE PRIOR SENTENCE WITH THE FOLLOWING) "This gift is to be used in such a manner as the Board of Directors of the Southern Tier West Development Foundation shall, in its sole discretion, determine."

Proportional Bequest
If you do not want to name the exact size of your intended gift, a proportional bequest is often a preferred way of giving in a will. This kind of bequest is often chosen when the size of the estate is difficult to estimate:

"I give to the Southern Tier West Development Foundation, an amount equal to __% of the total vale of the assets in my estate, whatever the amount shall be at the time of my death. This gift is to be added to the __________________ Fund. (IF A FUND HAS NOT BEEN ESTABLISHED, PLEASE CONTACT US OR REPLACE THE PRIOR SENTENCE WITH THE FOLLOWING) "This gift is to be used in such a manner as the Board of Directors of the Southern Tier West Development Foundation shall, in its sole discretion, determine."